21.10.201908:27 Forex Analysis & Reviews: Trading idea for GBPUSD

Trading idea for GBPUSD

Good day, dear traders! I present to your attention the trading idea for the GBPUSD pair.

So, as it is already becoming "ordinary," the next Brexit vote in the British Parliament has been postponed again. Boris Johnson was ordered to ask for another postponement under the threat of litigation.

I am sure that today many analysts will relish the gossip, to sort out the scenarios. But traders just need to make money out of all this news noise! It is so simple and obvious that many people simply forget about it.

So, let's see the balance of power before Saturday's "British failure."

On Friday, the pound grew almost all day, especially actively before the close. This is due not only to Carney's speech but also to expectations of a successful "historic" vote on Saturday, which failed again with a bang. Now, answer one simple question – where did all these buyers hide their risks? The answer is obvious. This is a minimum of 1.28360 on Friday and 1.27500 on Thursday.

I propose a trading idea to work on the decline of the GBPUSD pair starting from the opening of the European session to update the first and second targets at 1.28360 and 1.27500, respectively.

Good luck with trading and see you at the evening review!